# SBI Q1 net profit rises 10%, stock hits new high 2026-08-08T06:25:04+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 1 independent outlet State Bank of India (SBI) reported a standalone net profit of Rs 21,121 crore for the first quarter of FY27, beating market estimates. Profit rose 10.2% year-on-year and 7.3% quarter-on-quarter, driven by a 14.9% jump in net interest income to Rs 46,992 crore. The stock hit an intraday high of Rs 1,124.50 on the NSE before closing at Rs 1,097. Domestic net interest margin improved to 3.00% from 2.93% in the previous quarter. Gross NPAs fell 36 basis points year-on-year to 1.47%, though gross slippages rose slightly on a sequential basis. SBI chairman CS Setty dismissed concerns over a sequential deterioration in asset quality, saying first-quarter figures are often distorted by seasonal patterns. He maintained the full-year credit growth guidance of 14-15%, driven by retail, SME and corporate demand. The bank’s provision coverage ratio stood at 74.20%, and credit cost was 0.27%. Analysts at Systematix and SMC Global retained a 'buy' rating with a target price of Rs 1,300. ## Coverage - livemint.com - freepressjournal.in - businesstoday.in Tags: asset quality, banking, credit growth, PSU stocks, Q1 results, SBI Canonical: https://indianopinion.org/sbi-beats-q1-profit-estimates-chairman-dismisses-asset-quality-fears/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/sbi-beats-q1-profit-estimates-chairman-dismisses-asset-quality-fears/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.